Multi-location companies often transfer product from one Location to another. It is suggested to have one Inter-Company Transfer vendor used by all Locations. Each transfer entry is associated with that Inter-Company Vendor. At the home office, it is important that transactions to the Inter-Company Vendor are reconciled often.
A function found at Inventory / Inter-Company Transfer may be used when companies carry the same product at multiple Locations or if the home office does all the accounting for the remote site (the remote doesn’t operate Agvance Accounting).
This function requires the use of the Department Category to link corresponding departments of inventory from the various locations and Product IDs for the same item to be identical across locations.
The shipping Location enters the Inventory Transfer transaction found at Inventory / Inter-Company Transfer. Use the Inter-Company Transfer Vendor for the transaction. Choosing the correct From and To locations is important. Double-click the <Product Name> heading to select the inventory out of the From Location’s departments. The To Location columns default.
Lot Number information is transferred to the receiving Location. If the Lot did not exist at the receiving Location, it is added.
Selecting Tickets uses the Products from a selected customer’s loaded Delivery or Blend Ticket for the Inter-Company Transfer.
Containers is used if tracking of refillable containers is necessary for these products.
Saving this transaction creates two separate Purchase Receipts – one for the outbound and one for inbound. This adjusts each Location’s Amount on Hand for the Product(s) listed. If Tickets was used, the loaded ticket from the originating Location gets marked as Processed. There is an option to print a shipping document to accompany the material.
At the Home Office, someone can be specified to receive notification when the Inter-Company Transfer is sent. This is specified on the User Profile (Hub / Setup / Users). The number of minutes between notification may be selected, ranging from 0 (no notification) to once every 60 minutes. It is important to complete the process by entering a Purchase Invoice. This step marks the two Purchase Receipts as Processed and moves the cost of the material to the receiving Location. There are two methods available to do this.
Note: It is important to check the Inter-Company Transfers when selecting the Purchase Receipts. Only the shipping one will appear in the list.
